By Dean Seal


Shares of Evolent Health fell after the company said it would offer $350 million in convertible notes.

The stock retreated 15% to $25.08 in early trading. Shares are down 11% year-to-date.

The healthcare company said Tuesday morning that it plans to offer $350 million in convertible senior notes, due in 2029, to qualified institutional investors. Initial purchasers will be given the option to buy up to an additional $52.5 million in notes.

Proceeds from the offering will be used to prepay a portion of outstanding borrowings and pay related fees under its loan facility.


Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

12-05-23 1015ET